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ORANGE COUNTY <br />BOARD OF COMMISSIONERS <br />ACTION AGENDA ITEM ABSTRACT <br />Meeting Date: October 7, 2014 <br />Action Agenda <br />Item No. 6 -f <br />SUBJECT: Housing Rehabilitation Program — N.C. Housing Finance Agency <br />DEPARTMENT: Housing, Human Rights and PUBLIC HEARING: (Y /N) No <br />Community Development <br />ATTACHMENT(S): <br />Amended Assistance Policy (With Tracked <br />Changes) <br />Amended Assistance Policy (Clean) <br />INFORMATION CONTACT: <br />James E. Davis, Jr., 919 - 245 -2488 <br />1 <br />PURPOSE: To adopt the amended Assistance Policy for the 2014 Single Family Housing <br />Rehabilitation Program funded by the N.C. Housing Finance Agency (NCHFA). <br />BACKGROUND: In March 2014, the County received a notice of award for the 2014 Single - <br />Family Rehabilitation Loan Pool (SFRLP14). The County executed all requisite documents and <br />the BOCC adopted the Assistance Policy on May 20, 2014. Upon NCHFA's consultation with its <br />United States Housing and Urban Development (HUD) monitor, it was determined that all <br />program Assistance Policies should be amended to the satisfaction of HUD's preferred <br />terminology and include a notice that the standard for housing quality will change effective <br />January 2015. <br />The referenced amendments have been made to the Assistance policy and the revised policy is <br />attached for review and adoption. <br />FINANCIAL IMPACT: This $170,000 award represents additional funding available in the <br />community for the repair of substandard housing. <br />RECOMMENDATION(S): The Manager recommends that the Board adopt the Assistance <br />Policy, as amended, for the 2014 Single Family Rehabilitation Program funded by the N.C. <br />Housing Finance Agency, and authorize the Chair to sign the Assistance Policy. <br />